Principal Financial Group Inc. lifted its holdings in shares of Airbnb, Inc. (NASDAQ:ABNB - Free Report) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 680,539 shares of the company's stock after acquiring an additional 103,087 shares during the period. Principal Financial Group Inc. owned 0.11% of Airbnb worth $86,299,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Airbnb during the 3rd quarter valued at approximately $25,000. Hollencrest Capital Management raised its stake in shares of Airbnb by 6,666.7% during the third quarter. Hollencrest Capital Management now owns 203 shares of the company's stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Airbnb during the third quarter worth $30,000. Quarry LP purchased a new position in Airbnb in the 3rd quarter valued at $55,000. Finally, Meeder Asset Management Inc. increased its stake in Airbnb by 73.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 375 shares of the company's stock valued at $57,000 after buying an additional 159 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.
In other Airbnb news, Director Joseph Gebbia sold 214,285 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $131.88, for a total transaction of $28,259,905.80. Following the completion of the sale, the director now directly owns 1,285,715 shares in the company, valued at $169,560,094.20. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathan Blecharczyk sold 9,603 shares of Airbnb stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $130.22, for a total value of $1,250,502.66. Following the completion of the transaction, the insider now directly owns 164,850 shares in the company, valued at $21,466,767. This represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 764,592 shares of company stock valued at $101,185,969 in the last 90 days. 27.83% of the stock is currently owned by insiders.
Shares of NASDAQ ABNB opened at $134.21 on Friday. The firm has a market cap of $85.09 billion, a P/E ratio of 47.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. Airbnb, Inc. has a 1 year low of $110.38 and a 1 year high of $170.10. The firm's 50 day moving average price is $135.71 and its 200 day moving average price is $134.33.
Airbnb (NASDAQ:ABNB - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.17 by ($0.04). The business had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.72 billion. Airbnb had a net margin of 16.96% and a return on equity of 32.88%. During the same period in the prior year, the firm earned $2.39 EPS. As a group, sell-side analysts anticipate that Airbnb, Inc. will post 3.99 earnings per share for the current year.
Several analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a "neutral" rating in a report on Friday, November 8th. TD Cowen lifted their price objective on Airbnb from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, November 8th. Wedbush increased their target price on Airbnb from $135.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Barclays lifted their price target on Airbnb from $100.00 to $110.00 and gave the company an "underweight" rating in a research note on Friday, November 8th. Finally, Citigroup increased their price objective on Airbnb from $135.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Airbnb presently has an average rating of "Hold" and an average target price of $139.48.
Read Our Latest Stock Analysis on Airbnb
Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company's marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Airbnb, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Airbnb wasn't on the list.
While Airbnb currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.